The Australian Progressives believe that the economy should work for all Australians, not just those who can afford control of capital. Society is best served by an economy that is growing, and the economy performs best when all share in the benefits of that growth.
Australian Progressives will:
- Implement Progressive taxation for both individuals and businesses in order to ensure that everyone pays their fair share, and reduce the burden for individuals and businesses on the middle to lower end of the income scale.
- End all forms of corporate welfare, unfair tax reduction and tax deductions to reduce economic disadvantage and complexity.
- Clamp down on profit shifting strategies and the use of tax havens.
- Introduce a Financial Trading Tax on stocks, bonds and currency of 0.1%.
- Increase super contributions to 12%
- Reform contribution taxation so individuals receive a 15% tax discount on their marginal income tax rate
- Reintroduce the low earner supplement.
- Transition housing out of speculative investment sector.
- Phase out negative gearing.
- Phase in a cap on deductions for current arrangements.
- Crack down on foreign investors.
- Eliminate Capital Gains Tax Exemptions.
- Apply Anti money laundering measures to property.